Tisdale Incorporated reports the following amount in its December 31, 2024, income statement.

Required:
1. Prepare a multiple-step income statement.
2. Explain how analyzing the multiple levels of profitability can help in understanding the future profit-generating potential of Tisdale Incorporated.

Transcribed Image Text:

Sales revenue Nonoperating revenue Selling expenses General expenses $300,000 110,000 60,000 50,000 Income tax expense Cost of goods sold Administrative expenses $ 30,000 190,000 40,000